Commenting on this undertaking, T. Wilson Eglin, president andCOO of LCP, notes that the firm is "implementing a business plan totransform Lexington from a company viewed as having only abuy-and-hold strategy to one that is able to deliver superiorreturns to shareholders by actively managing its portfolio."

Over the past 15 months the firm has developed anasset-management business expected to produce approximately $1million in annual profits by the end of 2001. Including its recentjoint venture with an institutional investor, LCP has $380 millionto invest in net-lease properties over the next two years, whichwill bring its total assets owned or under management to $1.4billion.

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